The United States Agency for International Development (USAID)-sponsored Viet Nam Low Emission Energy Program (V-LEEP) helped attract US$311 million from six private sector-led projects to generate 300 MW of wind and solar power, a source of sustainable renewable energy, for Viet Nam.

Over the last three years, these renewable energy projects, along with savings from energy efficiency improvements, have reduced about 730,000 tons of greenhouse gas emissions, or the equivalent of 365,482,807 kilograms of coal.

The information was released at a ceremony on April 28 marking the completion of the five-year V-LEEP.

Speaking at the event, U.S. Chargé d’Affaires Christopher Klein asserted that the growth of solar power in Viet Nam over the last two years is inspiring, and Viet Nam now stands as a leader in renewable energy across Southeast Asia.  

The private sector has driven much of this growth in solar development, highlighting the strong support from the Government of Viet Nam for private sector-led development, he added. 

V-LEEP also collaborated with the Ministry of Industry and Trade (MOIT) to provide technical support for Viet Nam’s future power grid and the development of the Eighth Power Development Plan, which was recently published on MOIT’s website for public comment. 

The program also assisted with formulating a Direct Power Purchasing Agreement pilot program which, after final approval, will enable private enterprises to partner with Viet Nam to provide capital for new solar and wind development projects, and increase Viet Nam’s contribution to climate change mitigation.

USAID will maintain the momentum of V-LEEP and deepen its collaboration with MOIT through its new program, V-LEEP II. 

Over the next five years, USAID V-LEEP II will support Viet Nam as it continues its transition to a clean, secure, and market-based energy sector by increasing the deployment of advanced energy systems, improving energy sector performance, and increasing competition in the energy sector.